Interrent Real Estate Investment Trust (TSE:IIP.UN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$15.05.

Several equities analysts recently issued reports on the stock. Laurentian set a C$15.00 target price on shares of Interrent Real Estate Investment Trust and gave the company a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada boosted their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an “outperform” rating in a research note on Friday, March 1st. TD Securities decreased their target price on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Wednesday, April 24th. Raymond James dropped their price target on Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 24th. Finally, National Bankshares reduced their price objective on shares of Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th.

Interrent Real Estate Investment Trust Stock Down 0.4 %

Interrent Real Estate Investment Trust stock opened at C$12.07 on Tuesday. The firm has a 50 day moving average price of C$13.29 and a two-hundred day moving average price of C$12.96. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. Interrent Real Estate Investment Trust has a 52-week low of C$11.43 and a 52-week high of C$14.50. The firm has a market cap of C$1.75 billion, a price-to-earnings ratio of 18.86 and a beta of 1.08.

Interrent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a $0.0315 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.38 annualized dividend and a yield of 3.13%. Interrent Real Estate Investment Trust’s dividend payout ratio is currently 59.38%.

About Interrent Real Estate Investment Trust

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.